math125-lecture 3.3 - A matrix that represents the cost per...

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Unformatted text preview: A matrix that represents the cost per dollar to run several companies or industries in an economy ( i.e the costs of raw materials to produce $1 worth of their products ) Standard form of a consumpton matrix: columns = industries ( companies ) rows = usage of raw materials in making products Sec 3.3 Saturday, February 06, 2010 11:16 PM Section3dot3 Page 1 A matrix that represents the cost per dollar to run several companies or industries in an economy ( i.e the costs of raw materials to produce $1 worth of their products ) Standard form of a consumpton matrix: columns = industries ( companies ) rows = usage of raw materials in making products If x denotes the amount of electricity produced in $, y denotes the amount of oil produced in $, then usage of electricity (as a raw material) = .9 x + .4 y usage of oil ( as a raw material ) = .2 x + .1 y 3.3.1 Saturday, February 06, 2010 11:16 PM Section3dot3 Page 2 A matrix that represents the cost per dollar to run several companies or industries in an economy ( i.e the costs of raw materials to produce $1 worth of their products ) Standard form of a consumpton matrix: columns = industries ( companies ) rows = usage of raw materials in making products If x denotes the amount of electricity produced in $, y denotes the amount of oil produced in $, then usage of electricity (as a raw material) = .9 x + .4 y usage of oil ( as a raw material ) = .2 x + .1 y elec oil .9 .4 raw electricity usage consumption C = .2 .1 raw oil usage matrix 3.3.2 Saturday, February 06, 2010 11:16 PM Section3dot3 Page 3 A matrix that represents the cost per dollar to run several companies or industries in an economy ( i.e the costs of raw materials to produce $1 worth of their products ) Standard form of a consumpton matrix: columns = industries ( companies ) rows = usage of raw materials in making products If x denotes the amount of electricity produced in $, y denotes the amount of oil produced in $, then usage of electricity (as a raw material) = .9 x + .4 y usage of oil ( as a raw material ) = .2 x + .1 y elec oil .9 .4 raw electricity usage consumption C = .2 .1 raw oil usage matrix Interpretation of rows and columns: column 1: To make $1 worth of electricity, it costs the elec company $1.10 in raw materials row 1: In the production of $1 of electricity and $1 of oil, the economy consumes $1.30 in electricity 3.3.3 Saturday, February 06, 2010 11:16 PM Section3dot3 Page 4 A matrix that represents the cost per dollar to run several companies or industries in an economy ( i.e the costs of raw materials to produce $1 worth of their products ) Standard form of a consumpton matrix: columns = industries ( companies ) rows = usage of raw materials in making products If x denotes the amount of electricity produced in $, y denotes the amount of oil produced in $, then usage of electricity (as a raw material) = .9 x + .4 y usage of oil ( as a raw material ) = .2 x + .1 y elec oil .9 .4 raw electricity usage consumption C = .2 .1 raw oil usage...
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This note was uploaded on 06/07/2011 for the course MATH 125 taught by Professor Tom during the Fall '07 term at University of Illinois at Urbana–Champaign.

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math125-lecture 3.3 - A matrix that represents the cost per...

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